Member Info for Eck71

Gold’s gone tonto overnight

What’s with those two trades today? Not a bed n isa (or if it is someone needs a new broker).

Sterling gold is highest since spring 2013. Have a good weekend all.

BlakeneyP, I'll be quite happy to see slow and steady progress over the summer (provided that means getting over the 40p mark in good time for September).

Nice n steady accompanied by occasional, hopefully positive operational updates will do fine. Gives traders/forced sellers opportunities to get out before production if they want/need to, builds a good solid foundation for a decent rise into production.

Slowly slowly...

Very likely Glen. Add in the risk reduction of knowing you can choose to exercise them or not, and it makes a lot of sense.

Will these at last be the Scotgold options that get exercised? Not at 100p, not at 60p, but finally, perhaps, at 40p it'll be third time lucky.

There'll need to be newsflow over the summer to push the SP conclusively over the 40p mark, so we'd better hope those diggers, blasters, drillers and scoopers are getting busy.

Hi RM, GC67 and Baz72 seem very much of like mind. I’m sure they’ll get on. They may even become inseparable...

Just need the wall of buyers to materialise now. Or a buyer would be good. Still, a nice update on exploration and very encouraging for the long term re both Cononish and Benn Udlaidh. I've always loved Benn Udlaidh.

Baz72, yes fair enough. Speed reading, glass half empty. Must be catching...

Richard Gray didn’t comment: “A few weeks into development and we are already 17% over budget, necessitating further financing. Oh and sorry about Portugal, that really was a total waste of time and money, along with France”. Anyone want to run a book on what the peak finance figure will be by the end of the year?

Sounds about right to me, Rock. You’ll never amount to much on this board with level-headed posts like that though ;-)

Scotgold has precisely nothing to say about Cononish, winter is closing in and the UK continues to do its best banana republic impression. On the plus side gold in sterling is back up at £990/oz, highest since September last year. Is there any danger of anyone developing a gold mine to take advantage?

Morar, this would indeed be an interesting question to ask. Given that Phase 1 is supposed to be internally financing the ramped-up Phase 2 as well as paying down the NLR development loan, I'd be somewhat amazed if there was any divi before, at the very earliest, commencement of Phase 2. As ever, happy to be pleasantly surprised.

Interesting. From the two trades visible here this morning it looks like the real ask is over 36p and the bid 34p. That 'buy' at 34.2p looks to me like a sell above the official midprice, which would be consistent with a lack of liquidity. If NLR does try to mop up another 250k or so on the open market, that free float is going to come under significant pressure. There'll be some sellers above 35p though as we've not been there for a while.

Hi yayay, yes it needs a spruce up all round - I know there's a lot going on but it's just a few hours work at most to update. France is out of date, Capital Structure and Directors info needs attention, and some more up to date photography of plant and work in progress would be nice, along with annotation of photos so people know what they're looking at.

Minor grumbles. Otherwise delighted to get the decision notice out of the way and start the development phase after all these years. Slow and steady upward SP movement which is fine by me.

The patterns of trades - as described on LSE anyway - are...intriguing. I don't pretend to know what's going on, except that the NLR buys are obviously being doubled (or tripled) up by another - presumably related - party. And that NLR is edging ever closer back towards a 50% holding.

Full ask paid at 33p. It would be a morale-booster to see the mid-price move beyond this year's PP and funding announcement peaks at 33/33.5p.

Great to see plant arriving at Cononish etc. Weren't Scooptram & Rocket Boomer a 90s hip hop act?

Onwards and upwards. Would be nice if someone could update the website at some point.

And such wondrous RNSs too. Don't spill your kedgeree with excitement...

That's £9.04 banked for me on the dilution spike. Hang on, need to net off the fees. Oh.

Still, 'assuming November commencement' we can look forward to production in December 2019 can't we? What could possibly go wrong? Christmas presents all round next year, for sure.

Thanks yayay *mirthless chuckle*. I'm now trying to work out whether this RNS is good (great new loan terms, hooray!), bad (we don't need the money because we're never going to get round to doing anything, boo!) or indifferent (meh).

I think I'll go for meh. Meh.

Gold's having a bit of a day, which makes a pleasant change from the last few months. Not that we'll ever get round to mining any of the stuff of course.

The results are available via the Scotgold website. Which is good, because:

1) they haven't appeared here

2) if you try to download the pdf of the RNS from the proactive investors story, you get a completely different company's announcement

I'm not sure whose incompetence to blame, but it's exciting that we've graduated from retrospectively correcting RNS errors, to correcting errors in announcements that have only partially appeared. Keeps us on our toes! Go Scotgold, production in 2020, maybe, we 'hope'!!